Ionis Pharmaceuticals Inc (IONS) Receives $42.93 Average PT from Brokerages

Ionis Pharmaceuticals Inc (IONS) Receives $42.93 Average PT from Brokerages

Ionis Pharmaceuticals Inc (NASDAQ:IONS) has been given a consensus recommendation of “Hold” by the fifteen research firms that are currently covering the firm. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.93.

Several research analysts recently issued reports on the company. BMO Capital Markets raised their target price on Ionis Pharmaceuticals from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research report on Monday, March 6th. Laidlaw raised their target price on Ionis Pharmaceuticals from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, December 27th. Leerink Swann raised their target price on Ionis Pharmaceuticals from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 27th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating and set a $54.00 target price (up from $50.00) on shares of Ionis Pharmaceuticals in a research report on Wednesday, December 28th.

Ionis Pharmaceuticals (NASDAQ:IONS) opened at 40.22 on Thursday. The firm’s market capitalization is $4.98 billion. The firm has a 50-day moving average price of $45.67 and a 200-day moving average price of $40.78. Ionis Pharmaceuticals has a 1-year low of $19.59 and a 1-year high of $57.00.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.45. The business earned $160.30 million during the quarter, compared to analyst estimates of $97.47 million. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. Ionis Pharmaceuticals’s revenue for the quarter was up 210.7% compared to the same quarter last year. During the same period last year, the company earned ($0.59) EPS. Equities analysts expect that Ionis Pharmaceuticals will post ($0.58) earnings per share for the current fiscal year.

In other news, insider Sarah Boyce sold 1,361 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $46.29, for a total value of $63,000.69. Following the completion of the transaction, the insider now directly owns 5,318 shares of the company’s stock, valued at approximately $246,170.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brett P. Monia sold 2,502 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $46.29, for a total value of $115,817.58. Following the completion of the transaction, the senior vice president now directly owns 9,287 shares of the company’s stock, valued at $429,895.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,728 shares of company stock valued at $3,563,686. Corporate insiders own 1.86% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in Ionis Pharmaceuticals by 49.7% in the third quarter. Teacher Retirement System of Texas now owns 12,841 shares of the company’s stock valued at $470,000 after buying an additional 4,264 shares during the period. M&T Bank Corp acquired a new position in Ionis Pharmaceuticals during the third quarter valued at $458,000. KBC Group NV raised its position in Ionis Pharmaceuticals by 73.1% in the third quarter. KBC Group NV now owns 15,107 shares of the company’s stock valued at $554,000 after buying an additional 6,378 shares during the period. CAM Group Holding A S raised its position in Ionis Pharmaceuticals by 6.0% in the third quarter. CAM Group Holding A S now owns 37,100 shares of the company’s stock valued at $1,359,000 after buying an additional 2,100 shares during the period. Finally, Aperio Group LLC raised its position in Ionis Pharmaceuticals by 14.4% in the third quarter. Aperio Group LLC now owns 11,766 shares of the company’s stock valued at $431,000 after buying an additional 1,479 shares during the period. 87.76% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.

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